World Footwear

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Tod's posts sales increase

Nov 23, 2022 Italy
Tod's posts sales increase
The Italian-based luxury group posted a sales growth of 16.4% through September, year-over-year. Sales picked up in the third quarter in Greater China, but demand remains volatile in this region
"Today we presented very good sales results, which confirm the effectiveness of the strategy adopted by the group. All the brands recorded very positive results, particularly Tod's brand, which achieved growth of 23% with excellent performance in all product categories (…). Considering the collection of orders for next Spring Summer and the great attention of consumers for the quality and creativity of our products, even within a difficult and unpredictable global market, we are confident that we will be able to achieve good results also for the future", commented Diego Della Valle, Chairman and CEO of the Group.


Nine Months Results

In the first nine months of 2022, Tod's consolidated sales reached 724.9 million euros, reflecting an increase of 16.4%, on a comparable basis to the same period of last year. The company noted that currency fluctuations contributed positively mainly to the Tod’s and Roger Vivier brands, "which have the greatest presence abroad".

In these nine months, Tod's brand sales amounted to 364.8 million euros and Roger Vivier's sales totalled 179.8 million euros, growing by 23% and 11%, respectively, as compared to a similar period of the prior year. Hogan posted a sales increase of 9%, adding 145.4 million euros to the total, and Fay's sales grew by 7% to 33.7 million euros, year-over-year.

By product category, shoe sales reached 566.0 million euros in the first nine months of the current fiscal year, up by 13%, as compared to the same period of the prior year. The leather goods and accessories category grew the most in this period, by 39% respectively, with sales amounting to 114.7 million euros, and apparel sales rose by 13% to 42.9 million euros, on a comparable basis to the first nine months of 2021.

The luxury group reported double-digit growth in all markets in the nine months to the 30th of September, except for the Greater China region, where sales declined by 6% to 211, as compared to the same period of last year. Tod's highlighted that it registered a slight recovery in the third quarter of the year, due to the lower impact of lockdowns in traffic restrictions, adding, however, that "the trend in demand in this area remains volatile and uncertain".

In the same timeframe, the company recorded a sales growth of 16% in Italy which amounted to 176.2 million euros in sales, while sales increased by 26% in the remaining Europe, reaching 159.8 million euros, on a comparable basis to the same period of 2021. Sales were also up (by 37%) in the Americas region in these nine months, totalling 56.8 million euros. In the rest of the world, the group's sales totalled 120.8 million euros in the first nine months of 2022, increasing by 54%, on a comparable basis to the same period of last the prior year, "especially thanks to the excellent results of Korea and Japan".


Image Credits: fashiongonerogue.com

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